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Cyprus’ residential property price indexes plateaued somewhat during the second quarter of 2021 according to data released by the Central Bank of Cyprus.

The indexes were affected by a slight drop in house prices combined with an increase in apartment prices.

According to the second quarter Residential Property Price Index (RPPI) report, a quarterly increase of 0.3 per cent was recorded.

The same value stood at 0.5 per cent in the first quarter of 2021.

On an annual basis, the index rose by 0.2 per cent, 0.7 per cent down compared to the previous quarter.

“The price of houses presents a different picture from the price of apartments, with the first recording decrease, compared to the prices of apartments which record an increase”, the report said.

Meanwhile, apartment prices rose by 1.3 per cent quarter-on-quarter. The year-on-year increase is more than double that percentage at 3 per cent.

The central bank attributes the apartment price rise to the steady demand by both local buyers and investors, with both categories of buyers prioritising apartments over house purchases.

Costas Supermarket, a well-known grocery store in Trimiklini village in the Limassol district, has been acquired by Alphamega supermarkets.

The business, which has been in operation since 2009, will officially change ownership in November of this year.

Following an agreement between the two parties, the supermarket underwent a process of renovation, adding a kitchen area, a bakery section and a cafeteria.

According to reports, the staff already working at the supermarket will retain their current positions, while the business will also maintain the previous ownerships’ agreements with local produce suppliers.

The Cyprus Stock Exchange (CSE) ended Tuesday, October 19, with losses, putting an end to a three-day streak of profits.

The main Cyprus Stock Market Index was at 65.45 points by 13:19 during the day, reflecting a decrease of 0.11 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.07 points, representing a drop of 0.15 per cent. The total value of transactions came up to €57,345.18.

In terms of sub-indexes, the alternative index dropped by 0.58 per cent, while the main index rose by 0.05 per cent. The hotels and investment firms indexes remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (-3.79 per cent), Bank of Cyprus Holdings (+1 per cent), Cyprus Cement (unchanged) and K+G Complex (+1.72 per cent).

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